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IFRS
International Financial Reporting Standards, a set of accounting standards designed to ensure transparency, accountability, and efficiency in financial statements globally.
Fair Value
The estimated price at which an asset can be bought or sold in a current transaction between willing parties, other than in a liquidation sale.
Capital Lease
A lease agreement where the lessee essentially becomes the owner of the asset for accounting purposes, often including an option to purchase at the lease's end.
Operating Lease
An operating lease is a lease agreement for the use of an asset where the lessee obtains rights to use the asset for a fraction of the asset's useful life without ownership transfer.
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